Dow Chemicals to pump in 'billions of dollars' in India

New Delhi, Sep 7 (PTI) US chemical giant Dow, fighting to overcome the dubious legacy inherited from Union Carbide said it could pump in 'billions of dollars' in India, as it looks to expand operations in the country.

The company, which currently imports most of its products to India, plans to eventually have a manufacturing operation in the country, particularly for specialty chemicals.

"The country is attractive enough to invest...it could be large," Dow Chemical International President and CEO Ramesh Ramachandran told PTI.

"For us, large could be billions of dollars," he said
when asked to specify.

"At some point we have to start manufacturing here,
particularly for specialty chemicals," he said.

The company has kept its options open on the modalities
of setting up manufacturing operations.

"In some case we will look for partners and in some we
will go on our own for technical reasons," Ramachandran said,
adding tying up with a local firm would depend on what the
potential partner could offer.

Dow had signed a joint venture agreement with Gujarat
Chemicals and Alkalis earlier this year.

He said setting up of a specialty chemicals manufacturing
plant typically requires about 100-200 million dollars and 2-3
years to become fully operational.

Ramachandran said Dow would be focusing on its basic,
specialty as well as licensing business in India.

The company has so far invested about 200 million dollars
in India with two manufacturing sites and three centres of
excellence employing around 950 people. PTI KRH